The question, “Should I sell my car for cash according to the odometer readings?” must be frequently popping up your mind. Well, the answer to this question varies largely, but this blog answers it subtly.
Thus, if the questions like “Will I be able to sell my car fast online before it runs 15,000 or 20,000 kilometers?”, you will get an answer here.
What odometer reading is ideal to sell or not sell your car?
So, can you sell your car based on the readings that the odometer displays? Read out the answers below.
1) Avoid selling the car on an immediate basis: Firstly, you need to know that irrespective of the odometer readings, you should not sell your car within the first year.
As soon as your car comes out of the showroom, its value starts depreciating, and the depreciation is quite fast in the first year.
We recommend you avoid selling the car for at least one year from the date you purchase it. The depreciation value of the car might be anywhere between 20 to 30% of the purchase value depending on the car’s make and model.
2) When odometer readings read 50,000 kms: 50,000 kms is the distance when your car will start getting some wear & tear. Scheduled maintenance will do a perfect job here in terms of ensuring that the value of your car doesn’t depreciate.
We recommend that avoid selling the car at this time as you are likely to fetch less price here. However, if you desire to avoid the expense and time for the scheduled maintenance, you can sell it, but be prepared to get a bit low price.
3) When odometer readings read 100,000 kms: You can consider selling this car during this timeframe as your car will be demanding quite a hefty expense in terms of brakes, tires, and other parts.
You still can fetch a decent value for your car, if you invest in maintenance & servicing. If you don’t want to do that, selling it is an ideal option.
Remember, your car’s age will be an important factor that will play a vital role in deciding the price of your car. If your car is more than 5 to 7 years old, chances are there that you will get a bit less value for your car.
4) When odometer readings read 150,000 kms: The point or say milestone before which you should sell your car. Remember, depreciation is constant and once the odometer reaches 150,000 kms, the depreciation rate keeps on increasing.
To summarize, you cannot simply sell your car at least for a year, until and unless the depreciation rate up to 20-30% of the purchase rate is okay for you.
You can think of selling your car when the odometer reads 50,000 kms and you don’t desire to spend anything on maintenance and services. At 100,000 kms, if your car demands heavy expenses, you can consider selling it, however, the age of your car will play a significant role here.
But, when your car is about to reach 150,000 kms, don’t waste any time before selling it as after this milestone, the depreciation value of your car will be much fast.
“Okay, after reading this blog, I have figured out that I need to sell my car, but how do I sell my used car fast?”. Well, you need not worry about this question anymore, as SellUrCar.ca is here to help you out in selling your car.
Our experts will ensure that you sell your car in a hassle-free way and get the best value for the same. To sell your car without any hassles and with no chances of loss, call us at 416-841-7058.